How to Grow and Scale a Wholesale-Based Amazon Business with Multi-Million Dollar Amazon Seller Dan Meadors

Show Notes

Have you ever wanted to sell your products on Amazon.com? The Amazon multi-million dollar seller, Dan Meadors joins us to teach YOU the SUPER MOVES that YOU CAN USE to make millions with Amazon.com.

Yes, yes, yes and yes! Thrivetime Nation on today’s show we are interviewing Dan Meadors who is an expert in the field of wholesale-based Amazon businesses with relationship-building techniques (fellow sellers, brand suppliers, vendors, etc. welcome onto the Thrivetime Show how are you sir!?)

From Kentucky

I know that you’ve had a ton of success at this point in your career, but I would love to start off at the bottom and the very beginning of your career. What was your life like growing up and where did you grow up?

Dan, I would love to get into your business, The Wholesale Formula…how and when did you start this business?

Dan, I would love for you to share with us about your relationship-building techniques, fellow sellers, brand suppliers, vendors, etc?

Must have a trademarked brand

Enroll in the brand registry program

Enhanced brand content

Great picture

Great description

Make a great product

Must have a great title

Dan Meadors what is your approach for targeting potential products/brands to sell?

I know there is a secret algorithm to getting your product to the top of Amazon, could you share a few tips to doing this?

Dan, what is the #1 best advice that you could share with our listeners about growing and scaling a wholesale-based Amazon business?

What advice would you give the younger version of yourself?

We find that most successful entrepreneurs tend to have idiosyncrasies that are actually their super powers…what idiosyncrasy do you have?

What is a message or principle that you wish you could teach everyone?

What are a couple of books that you believe that all of our listeners should read?

Audio Transcription

Thrive nation. On today’s show, we are interviewing a man by the name of Dan Meadors. That’s Dan metters, m e, a, D, O, r, s. And he’s built a multimillion dollar Amazon business. And now he specializes in not only running his own multimillion dollar Amazon businesses, but he teaches great people like you how to sell products more effectively on amazon.com if you’ve ever wanted to sell a product on Amazon, today is the show for you.

See when you are next to me, it’s so good. But today it’s fueled a little bit better because we have a guy on the show who has, who is, he’s, he’s a multimillion dollar Amazon seller and the founder of the wholesale formula where he teaches others z. That’d be people other than himself. How to grow and scale their own wholesale based Amazon businesses with relationship building techniques from sellers, brand suppliers, vendors, cool targeting potential products, brands to sell. And he’s gonna share his insight. Xe. He’s going to wow us. It’s Dan matters. Dan Matters. Welcome onto the thrive time show. How are you sir?

Hey God, glad to be on here.

Alright Dan Meadors, we’re going to interrogate you, my friend. I got to ask Ya. Ah, you’ve had some huge success now, but where did it all start for you? How did you get started?

Oh man, we, I used to have a, just a regular day job working for a toys and games companies that sold products online and you know, it’s just like everyone, everybody else’s job. Just, you know, your standard run of the mill job. One day I live in Corbin, Kentucky. I’m sure you guys can hear that from my accent. But one day our CFO came in and he turned in his notice and we were like, Hey, what’s going on? Andrew? Ruland Andrew told us that he was, he’s turning in though others because he was selling things on Amazon. And making more money part time. Then he was with his full time job and this guy had a six figure salary. And I’ll be honest with you guys, these things don’t grow in Kentucky. There’s not a whole lot of six figure job that you can just go out there and yet.

Yeah. So it blew my mind whenever he told me that. And ultimately we talked him into taking us out, showing us what he was doing and he was doing a a model called retail arbitrage and what that is, it’s going to the, going into brick and mortar stores, buying things and then selling them for a profit online. And I remember the very first item, it was literally that night that was like, Whoa, this, this can’t possibly be like, so I was looking at Disney car and there’s an app you can just scan a product and they’ll tell you how much it sells for on Amazon. And this particular product was $3 in the store and was $16 on Amazon. There’s clear, yeah, literally no light. And he was like, no man, that he’s like, just thank you. If you were, if your kids collect Disney cars and you go to your store and it’s not there, what do you do?

If you really want it, you go online and you buy it and you pay whatever it takes to make your kid happy. And I was like, wow. So we, we bought a whole bunch of those, not really expecting they would sail, went signed up for Amazon that night, listed them cinnamon and the first day they landed, all of them sold out. And I knew we were onto something there. I was like, Oh, oh wow, this could actually be a real business model. So for the next few months me and Eric drove around. Cause you know, there’s not a lot. Like the closest target to me is an hour and a half away. So we would just drive around, you know, locally here within, you know, three or four hour radius and buy stuff and then take it and fill it on Amazon. And what’s that first six months we started with a $600 credit card because I didn’t have credit. Mayor had, he had terrible grades in time. And you know, we started with that little $600 card and then in December of that year, so six months, we did $50,000 in sales in December alone.

Where is [inaudible] original? $600 credit. Kentucky. Do you live how close to a Louisville deal with

Oh, about two and a half hours.

How close to Owensboro or how close to Owensboro are ya?

Oh, about four hours. Three, three and a half hours.

Okay. I just looked up these right next to the Daniel Boone national forest. Really? Yeah, that’s it. Well, that’s gotta be the secret. It’s been a great show. Have a good day. Yup. So, all right, so you’ve done a lot of you’ve had a lot of success on Amazon, but right now I’m just, I’m not, I’m not ripping you. I’m not, I’m busy. My job is to ask the questions that are super rude listeners, not our listeners, but they’re friends of our listeners. He’s, he’s like, doc, I’m going to ask the questions that they would ask. Cause I Z I certainly wouldn’t ask these questions, but I see a lot of people who will come to conferences and I’m like, Hey, what are you doing? They go, well, I’ve been not trying to sell stuff on Amazon for like, you know, since Jeff Bezos was trying to sell books, come on. They don’t, one thing I haven’t been able to sell is everything. So what is your secret man? How are you selling? How are you doing so well? And most people, you know, are not, not doing so well with your Amazon business.

Sure, sure. No, I mean, we started out like that, you know, and ultimately we made a great living doing that, but it was one of those things we had to constantly be out there shopping, right? So ultimately what we did is we decided to switch models and it started out we were just trying to make money through the summer so we can be with our kids in the summer. And we started this thing called wholesale and that’s what we do now. And what wholesale is that sitting up with? Setting up accounts with manufacturers of brand owners ordering product directly to discount and selling it online at a profit, which is fantastic, right? Like it sounds great, but I remember early on it was so hard to get started because we would call these and brand owners and they’ll just be like, yeah man, the, we already have enough Amazon sellers, you know?

So it was really tough for us to get started. Ultimately we did. And the way that we found to do it, you know, here’s, you asked for the secret sauce and here’s the secret sauce. Oh, here we go. Yep. So whenever we would call brands, they didn’t want to work with us. So what we started those, we started to look beyond trying to buy and sell their products, right? Like that’s what everybody else tried to do. They should call them. They try to place an order and sell their product. Well, we started looking at ways that we could add strategic value to them because we didn’t have a ton of money. I can’t place bigger orders than everybody else. So the one thing I could do is I can offer to offer them my Amazon Amazon expertise, right? So we would look at their listings and come up with ways to help their products sell more health than they’d be better with better presented and just overall just try to be a problem solver. So our approach to brand became, and it still is, it still works like magic is we would go to brands and we would find out what their problems were and then we would try to help them solve them and use that deliver and setting up an account and developing a great relationship with the brand.

What’s the, Dan Meadors, give me, give me an example. Give us an example. So walk me through when the early examples or, or give me a, they’re the latest ones because until that our minds can handle. Yes,

Sure, sure. Well, I can example, here’s a, here’s a good example, a brand we talked to a couple of weeks ago and we were talking to them about because we see, you know, that’s another thing is over time we’ve trained ourselves to see and understand opportunity. Like, I can look at an Amazon listing, I can tell you all the things it’s doing wrong and I can tell you approximately how much better will do if you get those things right. And that’s just through experience, right? But we saw with this particular brand, we saw a lot of opportunity for them. We reached out to them and they, one of their major problems was their product was being sold for nothing. Like it was literally being sold right above costs and they didn’t have any pricing controls in place. So one of the things that we talked to them was about a map policy and it rather than just talking to them about, you know, how to put a map policy in place on that policy is minimum advertised price.

And that’s just, you know, a vendor can say, please don’t sell my products below this price, otherwise I’m not going to do business with you. You know, it’s not truly price. It’s not priced they thing because it’s a suggestion and they have the right to do business with whoever they want. So we talked to them about a map policy, gave them a sample map policy and told them about how to, how to roll it out. So that’s an example of solving a problem for them, right? It’s not just giving them the solution, it’s explaining how that solution really works and how it’s ultimately going to help herb and solve their problems.

It’s on Amazon. There are, you know, millions of people trying to sell their product on Amazon z milk. See, I’m going to go on Amazon right now. Okay. I’m going to Amazon right now. I’m surprised your office. I’m on there right now and I’m going to, I’m on a search for you’re right. I can’t kill ever. Got, I have, I’m off him Amazon here. I’m logged in, I’m going to, I’m on Amazon and I’m looking for a beard, oil beard oil, oil for beard, right? Cause there’s, you know, guys out here, the one smooth face and there’s men out there that want that organic. They wanna, they wanna you know what I mean? They want that organic, that healthy beard oil. They want to smell great. Look Great. They’re sort of like, as he, how would you describe these people? Like in like an urban warrior or something or what do you call these places like a Yuppie, lumberjack, Yuppie, lumberjack or something. So I type in beard oil, help our listeners understand how to get to the top of the Amazon search results when someone searches for beard oil.

Sure. No, that’s a, that’s a great question. And that’s, you know, that’s, I think that’s the fundamental thing that most people don’t understand. So like you guys said, you know, where, how often your product sold really depends on where you show up in that search, right? Like of your products on top of the page. On page one, you’re going to get significantly more sales than if you’re on page three. Yeah. So you know, the way to get those products to show up better is number one through SEO. And what SEO is, is it’s, you know, the search in search engine optimization and that’s making sure you’re using the right keywords in your listing. But most importantly, and this is the thing that most people get, it’s not just about adding words, it’s about making sure the customers buy when they type those words. So that, you know, one of the ways you could do it ultimately is you can do something like sponsored ads or sponsored advertising and that’s paying for PPC or pay per click advertising. And that puts your product on the top of the page. But the, here’s the thing, if your products on the top of the page through paid advertising, it has to start converting. So your listing has to be engineered to be able to convert for that specific keyword. And then over time you gain organic search ranking your product naturally start showing up up there.

Yeah, there’s, there’s, I’m looking at one here called honest Amish balm, leaving conditioner made with all natural and organic ingredients. Honest Amish, this guy’s got 7,360 reviews right now. Let’s say that the guy, let’s say we have a listener right now who’s a graduate from a college private school. Smart guys might get smart Gal, somebody out there, smart person, and they got beard oil and they’re facing, they’re looking into it going either to listen to Eric Clapton, Yo, if that could change the world, you know, see there, listen, you wouldn’t be there. They’re all fired up. They’ve been watching a lot of rocky pump bump up a bump ba bump ba bump. They found you online there, Dan Meadors, they found you online and they’re going, how can I learn to come up top there? Do you show people how to do that?

Yeah, absolutely. And it’s, you know, here’s the thing is whenever you run into something like that, like that, you know, obviously Amish, honest Amish is a, is a juggernaut up there with 7,000 reviews that are probably for the first analyst, been there for years. Like it’s really, really hard and you know, it’s a long road to hoe for somebody to overtake that slot. And that’s the thing you have to realize is, you know, you’ve gotta, you’ve got to look at this and w w with your competition in mind. So, you know, well, while I could definitely tell them how to do it over time, I couldn’t tell somebody how to do it tomorrow because it’s, you know, it’s, the system is not built to work like that.

Give us a few of the steps one would have to take that are the long road, you know. Cause I see, you know, this, I’ve been involved in franchising. You’ve been involved in your opt in, your optometry clinics and how many years have you been an optometrist? 27. Would you say you do with your two locations? Probably one of the highest grossing volume optometry clinics in Tulsa. Yeah. bigger than that, but yes. Yes. But it’s taken you a long time to get there. Correct. okay. So Dan Meadors, what are some of the steps our listeners could take right now if they did want to overtake the honest Amish beard by, I’ll take them on. They say, I’m, I’m going to overtake the Amish and I’m going to put lights and electricity on everything. I’m going to watch TV nonstop. I’m going to just be the Anti Amish. I’m going to dominate, you know, the Amish, how would they do it?

Yeah, for sure. I’ll definitely get the answer to that, but I wanted to say he’s been an optometrist about as long as I’ve had eyeballs.

Wow. Wow. There we go. Just another potential customer right there and see the thrive time show with father time and click on the eyeballs. All right. All right. Get back to you.

Yeah. Yeah, so, so you know, the long road to hoe is ultimately your product has to be your, your listing has to be geared for conversion. And that is, you know, you’re going to need great pictures, you’re going to need a great description like, and, and things like this. It’s like, you know, your bullet points, your description, every, all of these have to be on point so that your product is ultimately converting. And then there’s the step of, you actually have to have a product that don’t, that doesn’t suck.

Oh Wow.

It’s like we want to, we want to hack the system and do all those things, but ultimately you actually have to have a problem or a product that is good. It’s pretty clear that honest, honest Amish does like if you had 7,000 views, your product is at the top of the page. Like realistically your product is probably performed exceptionally well for a long period of time. So assuming you have a great product and you do all those things right, you met, you create a great listing, great title, great pictures. One of the things that we always try to talk to people about is in rolling the product into brand registry because it opens up a lot of as advertising Adam’s this, right? One of those is enhanced brand content. Now what enhanced brand content does that make your listing a lot more vibrant by putting an [inaudible], a more interactive description that tells your brand story and really goes, it’s just pictures and more detailed

Enhanced brand content. How do I do that? If I’m listening right now and I’m a 45 year old guy and I’m like, I don’t know how to do this, how does someone do that?

Sure, sure. It gives you actually just have to enroll in the brand registry program. And to do that you have to have an active trademark trademark for your product. So as long as your product has an active trademark, you can roll in and enroll in the brain register program and then you’re kind of to the races as far as making enhanced brand content additional search search options and things like that, that will really make your product stand out from the company.

So you must have a trademarked, a brand trademarked brand to enroll the brand, the brand registry program with Amazon. And then you got to have the enhanced enhanced brand content and z. Then he’s saying you gotta have great pictures and then you’ve got to have a great title, great description and a great product. Z, it sounds like this is going to be a lot of work, Josh. It sounds like it’s going to be a lot of work. People are going, are our listeners go, I love work. I’ll tell you that. And I love that. They just want to know what to do. Josh, what questions you have for Dan Meadors about what to do. Hey Dan. So I wanna circle back to like when you started, you said that y’all, when you began, we’re doing retail arbitrage and now I got into wholesale. I know a lot of small business owners, other listeners, not ours, not our listeners get into a business and get married to their idea or their model or their, this is what we’re going to do and we’re going to do it better than everybody else. And it doesn’t work or it doesn’t fit their lifestyle or fit their longterm goals. Whenever y’all chose to pivot to go the other direction, can you talk about that? Cause I think a lot of our listeners need to hear that.

No, it’s absolutely terrifying. I mean ultimately that’s the, that’s the, that’s the real emotion that’s there is, you know, why do we do that? And it’s because when you’re comfortable doing what we know works, it’s not about, it’s not about necessarily avoiding risks, it’s just we know this works and why rock the boat. Right. And it was the same, the same scenario me and Eric were in for years. Like, you know, we, we, we ultimately did retail arbitrage for three, I think about three and a half years and worked ourselves to the bone. Now granted along the way, made great money. But the problem was, is that was an entire shift, right? Like once we started going down this path, we knew that we would have to dedicate resources to it. We, we knew that we would have to restructure parts of our business and it was very, very scary.

But ultimately that’s the thing, I, you know, this is the advice I always give people is you have to, you can’t build a business just because it works. If you want a successful business, you have to be somewhat passionate about at least an aspect of it. And for us, that we, we wanted a business that would fit our lifestyle, at least the lifestyle that we wanted. Because when I went into business, you know, I didn’t come out as, I didn’t come and say, you know what I want to do? I want to work significantly harder than I did. Make it back to the same, maybe a little bit more money. And just have no time to spend with my family. Like that’s not what I, you know, what’s exactly, you know, what sold me on getting in the business. It wasn’t the money, but the fact of the matter is, you know, I had a pretty good job and would have and would have been perfectly fine if that job had I stayed.

So it wasn’t the money, it was the freedom. It was the ability to go do things with my family. It was the ability to take off when I wanted to, to go watch my daughters play. It would be ability to take my daughters on vacation anytime I wanted and wherever I wanted without having to have to answer a call or something like that. So, you know, that was what I wanted. So whenever, whenever you put that in constant context, you start thinking of, you know, this is the life I wanted, this is why I got into business. You have to craft a business that is conducive to that. You have to look at the models available or be able to tweak the model, the existing models to be able to make it, see what you want so you can be passionate about so you can grow.

Now, Dan Meadors, I think somebody’s out there going, I don’t know what retail arbitrage means. I don’t, I don’t know. I feel like I want to know, I maybe know the word arbitrage, maybe the word retail. What, can you explain what retail arbitrage means from your perspective?

Yeah, absolutely. And for what it’s worth, I get the great model for people trying to get into Amazon because it’s just incredibly low risk. So I’ll go a brief description in the next band a little bit. So what it is, is we’re going into a brick and mortar store, purchasing a product, and then taking it and selling it online at higher price. Now, as the concept that, you know, conceptually it’s pretty simple to think of it in those terms, but why does that occur? And it’s because of regional differences, right? Like some products aren’t available in other regions. Maybe you get a discount, maybe your Walmart put items on clearance that aren’t on clearance and other parts of the country and give you an additional discount to be able to work with. And that happened a lot for us. So effectively that’s what it is. It’s shopping in brick and mortar stores to try to sell products online.

Z, I, I know there’s somebody out there who was wanting to ask about the secret tip, you know, the one that Dan Meadors is holding, holding back here, you know, they had the man, Moe, Jan, what is the secret or what are the secrets to getting to the top of the Amazon search results? What are the, the secret, give us your secrets and we’ll just keep it confidential between us because we won’t tell anyone Z Josh on in the 500,000 some odd listeners. And then that’ll just be our secret between us 500,000 in Ark, two or three friends. And that’s it. We’re, we’re the kind of people that would not share it with more than 10 or 15 people. Nuts give, give us the secrets.

Oh, for sure. I mean, it really is it, you know, there used to be a lot of hacks to get there. Like you used to be able to do launches or really aggressive launches where you gave away products and things like that and rocketed your product to the top. But like Amazon recently, this is really recent, like in the past few weeks has changed out arithmetically to recognize abnormal sales patterns and not give those products a boost in search. So like even even the old hag methods build a rocket, your products up there aren’t working. It really is. I mean, it really is from top to bottom, creating a sound fundamental listing and then doing all the things right like advertising and, and making sure your product is converting.

Amazon pay per click,

Just a have an easy method anymore. It is, it is the longer road and that’s why ultimately, you know, what it’s worth. That’s why I watched where we’ve landed as opposed to, you know another model like private label. So in private label, what they do is they create a lot of lists. They create listings and try to make a product start selling. Right. And these products don’t have any built in audience or things like that, but all the products that we work with, like for example, like you know, we do wholesale, all the products that we work with have established selling history, like their products that have been selling already on Amazon for years and performing at a great level. So it’s a lot easier to take a product that’s doing well and make it better than it is to create a new product and make it do well, if that makes sense.

Now do you [inaudible]

Is a lot easier than, than the question you’re asking.

Do you recommend a Amazon pay per click for the listeners out there who are trying to sell some stuff organically?

Oh, absolutely. I mean, Amazon pay per click is a, I think right now, this year, Amazon pay per click has accounted for about 10% of our overall revenue. Wow. That’s just sales driven from pasting per click advertising. So it’s, it’s absolutely phenomenal. And that’s a growing segment of our business. Like one of our buddies too recently, he actually recently sold his business whenever he sold his business. And you know, he, it was just one, one wholesale account that he’d set up and optimized and guns got an exclusive contract for. But he said, you know, that that business 40 per cent of revenue was driven on PPC, profitably driven on PPC, but it was still 40% of his sales were coming from advertising.

So if I’m listening right now and I want to learn more about the whole sale I want to learn more about this, this wholesale formula. I want to get in touch with you. Do we go to the wholesale formula.com? Do you have a class that you offer? Do you have a course? Do you charge for a training? I mean, how do we learn more?

No, we, we, well, we do have, we do have a course, but our courses a little bit is a little different than most. Like, it’s not always open. We, for example, right now, people can’t sign up for our course. And that’s because whenever we take a core class in, we really do try to focus in and dial with them. And we’re not trying to take on lots and lots of new students. So it’s, you know, we try to take people on when we have the capacity to do it. We train those people and try to get really good results. And that’s one of the reasons, you know, ultimately we started by our, our folks last year and we had 421 responses. And of those 421 responses to sales, like those people had done more than a half a billion dollars, collect one point $2 million per person that responded to that survey. So it’s, you know, that’s, that’s one of the reasons for that success is our dedication and really attention to try to make, trying to help those people succeed.

What does it cost Dan meters to get, give us, give us what, what does it give me z? We have people that are listening that are, they ask the candid questions, you know what I mean? They have listeners who are like, I swear ask Dan Meadors how much, if we can charge I’m, can I ask you right now, put him against the ropes. Ask them to calm down. Okay. Calm Down Dan. How much does it cost to go to your program? Your class?

Yeah. Our, no, our course, we have two out of two page or two options to pay. We have the three pay, which is, you know, for even 40 monthly payments. And then we have the onetime pay our one time pay at the time of this recording. And that may change, to be honest with you. Is 24 97 or a three pay of nine 97

So $2,497 we’re in. And where are we? Are we going out to Kentucky? Are you coming to us? Where we going?

Everything’s online for us now. We do a free event once a year for all of our students who have signed up for our course. And that’s that, you know, this year it was in Atlanta, I think we had a five, five or 600 people show up. And it’s absolutely amazing. But yeah, it’s, you know, the bathrooms are all, all of our courses online and taught that way.

And it is the wholesale formula.com. Am I correct?

Absolutely. Now we did include, we didn’t build something out just for your audience, if you want to give it to them, it is the wholesale formula.com. Forward slash thrive time.

Nice for test the right time. Okay. Gun, pull it up here real quick here. Yup. Z, you’re kind of a big deal. He’s putting a gimmick in a little landing page, therefore you wow. Okay. Look, I see a photo use you. I see a photo of me. Yes. Okay. So people can check it into, can they go there to get so free information or do they have to buy something right away or what’s the deal?

Nope. Nope. Everything’s absolutely free. And that’s the thing about our, our, our content, right? It’s like we do sell our course, but our course, like I said, it’s not open very often and the rest of the year we just put out awesome free content. So you know that resource right there. What it is is downloadable guide that explains what our model is, how people can get started and it’s absolutely free. And then likewise, we have our blog where we post articles about different aspects of wholesale, different aspects of selling on Amazon and just encourage people to get started that way. Using the free material.

Hey Dad, brag on one of your students. I mean, so give a Sab. You don’t have to tell us what they’re, what they’re selling or what they’re honest Amish they with part of the Illuminati is that is that party controls everything. Brag on one of your students who, like I said, when he’s come to your course, are now making $1 million a year. I mean Brag on that because I know sales are one thing, but I mean, what’s good? Give me a brag. If you say in Revlon, Nike comes, fire someone up out there. Sure.

Oh absolutely. I can give you that again. I can give you guys tons of examples for, you know, this is one of those crazy things over the course of the past three years or four years, I guess that we’ve been opening the course. We’ve actually had students who have taken our course and are doing significantly better than us at this point. Like they’ve just grown a monster business. So but yeah, one of the ones that really always just sticks out in my mind is Cheryl Brightman story. And Cheryl, whenever she took our course whenever she took our course, she was struggling financial, financial aid, she had been laid off from her job. She had, she had moved back in with her mother, you know, she think times were tough for, and ultimately she got involved in our course and she struggled. At first. She was one of the people that, you know, sometimes people get it right away and they’re able to just take off like a rocket.

But Cheryl did Cheryl, I remember where we were, she would post all the time and she was asking all the right questions and things just want thicken for it. And we had a dinner out in Las Vegas one time for one of the major shows out there. And Cheryl showed up and she was talking to me and she just, you know, I was asking, you know, why, why is it, why is it not working? And ultimately it was, she wasn’t very competent. Like she really wasn’t, I mean, when she would talk to people, she, she, she didn’t speak confidently. She didn’t talk to them like she could solve their problems. And you know what, after that she went home, she really focused in, dialed into trying to learn how to talk to people, just to make them realize that she did want help. And she picked up an account that like, within three months of that, and she said that accounts, she’s had that account for three years now, and that account alone makes her about $250,000 a year in profits.

John. Wow. There we go. Oh, we have it. We have an oral Roberts University student here, a recent graduate of the name of Nick. The quick, he’s very fast, very, very fast. And nick, you have a product that you sell. What question would you like to have for the Amazon expert of the, the layman man who’s sold millions and millions of dollars of products on Amazon? Mr Dan Meadors. Dan’s nice talking to you. I was curious, when is it the right time to put your product on Amazon? How do you know when it’s time for your, do you have enough sales revenue and your own company? When do you know?

No, I really feel like your, here’s the thing, Amazon is such a dynamic platform on its own, right? Like Amazon, one of the things that people aren’t really grasping yet is just how big Amazon is. Like you can have your own audience as well as an audience with Amazon, right? Amazon is 50% of of the u s online sales at this point. There are actually 50% wow. Which means that they are 5% of all sales in America. All sales.

Good job, Jeff. Paizos.

Whenever you think of it with that, that that mindset, right? Like it is massive. I think from day one you products should be on Amazon. Like because here’s what you’re doing. If you have a great product, you’re building an ultimately building a billboard like, or people will see your product on Amazon than will ever see your product in any store that you sell to ever. So whenever you get your product on there and you have a great listing that features your product really well, you focus on delivering a good experience to the customer, making sure that the customer gets what they buy. Like those reviews are a testament to your product and ultimately it will fuel sales. Like that’s the thing is how do you think a lot of brick and mortars are choosing what they go with? What goes on their shelves nowadays they go to Amazon, the cotton and the products that the products that they’re looking for.

And they read customer reviews because they understand that the customer experience is critical. Right. And one of what better way, like I can’t do that talking to a distributor, they can’t tell me what the customer thinks about a specific product. So Amazon is becoming a tool to get your product into our brick and mortar. So I think, you know, realistically the answer to that question is from day one, like from day one, you need brands need to be focused on building a strong Amazon presence because it can be a tool to fuel their sales outside of Amazon,

You know, t t z to add on to this whole Amazon craziness. Do you know that Jeff Bezos? Now again, this was according to Forbes earlier today. And then if you go on Wikipedia, you can look as well and you just have to kind of do your research. But Bill Gates Z is worth $100 million. Okay, so Bill Gates Co founder of Microsoft, $100 billion, 100 billion, 100 101.9 billion, 101 point $9 billion net worth with a B as of right now, where do you think Jeff Bezos z as of the time of this recording today in July of 2019, how much do you think he’s worth? Again, if at the second wealthiest man in the world as 101 billion and the number three guys at 100 billion from France there, Bernard Arnoult. What, where do you think Jeff Bezos is ranking there on this before, after his divorce?

That’s a critical factor. You got to, you gotta measure here, you know, three months ago his, his net worth was significantly higher because he hadn’t divorced yet. Now he’s actually divorced and McKinsey put quite a bit of that

Age five, age 55. How much do you think McKinsey took their w? What were you saying there, Dan? 39 38 39 billion. As of right now, according to Forbes, now I’ll go into Forbes. We took a little haircut after his haircut, after the haircut, after his haircut. I say that he’s a, I haven’t looked lately, but I know he’s gone pass gates obviously. And I’d say he’s probably, what, one 50 164 point $9 billion as of today, after the haircut. Some have speculated because you know, Amazon loves to reinvest in itself. Some would say that he was worth close to 190 billion before the divorce, but he disclosed one 67 anyway, if you look up Wikipedia at San Juan upper one fifties one 57 you’ve got right now 4% 164 billion. He’s on pace again, according to estimates that I’ve read in the last year or so, he’s on pace to double Bill Gates. His net worth here in the next 24 months. Do you think he’ll be our first trillion trillion here? I think what’s going to happen is the government will break it up soon cause he’s at 5% of all sales right now and I think that’s going to happen is what’s the time with Rockefeller? I mean Rockefeller,

But that’s, that’s the, that’s, that’s the part that makes it difficult. It’s a, it’s a very hard company to break up and I think the government will, you know, even if they do try to step in, it’s going to be very tough because they’re so segmented. Like if you look at what is the service that the Amazon, if anything could be considered a monopolian. It’s cloud computing,

They’re going to make it like the, they’re gonna make it like a separate links,

Profitable cloud computing company in the world at this point. It’s not close.

They’re going to make it like the Great lakes.com is where you go to buy dog food. And then amazon.com is where you gonna go to buy like books, books like the old days, like ocean.com where you go to buy. You know, and I mean seriously, I agree with you. There’s, it’s such a big company, but I’m just saying whether they break it up or don’t, this is a great thing to learn about. And if you’ve ever thought about wanting to know how to dominate, dominate Amazon sales, check out Dan metters, check him out today. He has a great company, a great program there. I think it’s a wonderful place for you to learn how to dominate in the Amazon search results. We have time for one more question there. Nick. The quick, one more question. You’re an aspiring entrepreneur. You’ve got a product there. You’re, you’re marketing it there to. Any other questions you have for Dan matter. Finally, you have the final word, final questions for Dan Mutter, the Amazon expert. Final question. Dan, what is the worst thing I could do when I go to put my product on Amazon?

I figured that’s actually a great question. There. Not a ton of bad things you can do, but like the actual worst is if you’re launching it in the initial launch phase, if there’s an issue with your product that would cause you to get negative reviews, it will ultimately sabotage your effort. Like that’s ultimately one of the problems we had one time during launching a product is it was a liquid product, a some kind of essential oils and they had a problem with the cap, right? Like the, it will just link and whenever we went through a lot that that initial launch phase, we started driving tons and tons and tons of traffic to it. Like people started receiving their order and were they, you know, they, they, they would’ve saved empty bottles of liquid. Ultimately that slew of negative reviews ultimately trashed us. Like it literally made it that that listing we had to, we had the first contact manufacturer, but ultimately we actually just restarted, started a new listing on that and closed that listing. So, so we threw thousands and thousands and thousands of dollars away on that launch process. Hey, it was just an absolute nightmare. So it’s, you know, ultimately I think the best, the worst thing you can do is, is give a, give a customer a product that doesn’t meet, that meet what they bought. Like, yeah,

Dan, I appreciate your time more than you could possibly know. And if you’re out there again today thinking about wanting to learn how to sell things on Amazon more effectively, Dan, what’s that website? One last time,

The wholesale formula.com. Forward slash thrive time.

There it is. Check it out. Dr Z, we looked at every show with a boom. Let’s do it. Dan, are you prepared to say boom with authority after we do the countdown from Kentucky? Absolutely. Z, are you ready? Absolutely. Nicole, you’re ready? Ready? Are you still ready? See, I think so. Are you optimized? No, I’m no. Here we go, three, two, one, boom.